Multiverse, the tech apprenticeship business that rebranded from White Hat and raised $44 million earlier this year, has raised another round of funding. The company announced today that a $130 million Series C investment has been closed. While the deal was being closed, the funding had been rumored in previous weeks. This latest investment was headed by D1 Capital Partners and BOND; Multiverse isn’t saying if there are any more investors in the round.
Multiverse isn’t saying whether there are any other investors in the round. General Catalyst (which led the startup’s recent round), GV (formerly known as Google Ventures), Audacious Ventures, Latitude, SemperVirens, Index Ventures, and Lightspeed Venture Partners are among those who have previously invested in the company. D1 is Daniel Sundheim’s firm, and BOND is Mary Meeker’s firm, both of whom are well-known names in the investment banking and investing sectors.
The company’s new valuation is $875 million, according to the corporation. PitchBook assessed the valuation at slightly under $164 million at the time of its previous round, while the financial Times pegged it at $200 million at the same time (Multiverse never confirmed those numbers, though.) In any case, the inference is that it is higher in multiples due to the company’s expansion: Multiverse claims that in the previous year, it has grown fourfold and now employs 5,000 individuals, including both current apprentices and alumni.
The last round of funding was used to enable Multiverse, a London-based firm led by the well-connected Euan Blair, son of former British Prime Minister Tony Blair and barrister Cherie Booth Blair, grow into the US market. Given the massive hitch that is the global COVID-19 health pandemic, it’s possible that the New York office barely opened last month.
The fresh funds will be utilized to continue the company’s expansion, both in its native market and in the United States.
It has roughly 300 customers, which is the same number it gave me when I covered the last fundraising round in January, with Google, Generation USA, Mixpanel, and Adyen being among the younger ones, and Facebook, Morgan Stanley, and the NHS being among the older ones. Apprenticeships on the platform presently vary from data science and adtech (“programmatic pioneer”) to administrative and operational jobs, and include on-site and remote placements in tech firms, finance institutions, and more.
